1. You Are At:
  2. Home
  3. Business News
  4. Rs 11.23 crore fake currency detected post note ban: Arun Jaitley

Rs 11.23 crore fake currency detected post note ban: Arun Jaitley

Data available from the NCRB indicates that 1.58 lakh notes of fake currency, having a face value of Rs 11.23 crore, have been detected in 29 states post demonetisation until July 14.

Edited by: India TV Business Desk, New Delhi [ Published on: July 18, 2017 18:47 IST ]
Arun Jaitley
Arun Jaitley

Union Finance Minister Arun Jaitley today informed that fake currency totalling Rs 11.23 crore has been detected since November 8 last year when the government had demonetised the high-value currency notes of Rs 1,000 and Rs 500 which made up 86 per cent of the money in circulation.

Data available from the National Crime Records Bureau (NCRB) indicates that 1.58 lakh notes of fake currency, having a face value of Rs 11.23 crore, have been detected in 29 states post demonetisation until July 14, Jaitley said in a written reply to the Rajya Sabha.

A mobile app has been launched by Reserve Bank of India (RBI), which allows the users to see the features of Mahatma Gandhi (New) Series Rs 500 and 2,000 notes to check their authenticity. The app can be downloaded from the Play Store/App Store in android/iPhone respectively.

The Minister also said that bank notes with writing on them are treated as soiled notes and can be deposited in bank accounts or exchanged at any bank branch.

With IANS Inputs 

Promoted Content

Write a comment

monsoon-climate-change